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Once they top $4 can $5 be far behind.
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Gas Prices Top $4 In Two Metro Areas
2 Weeks Time Brings 17-Cent Gas Price Climb
POSTED: 7:12 am CDT May 19, 2008
UPDATED: 9:53 am CDT May 19, 2008
CAMARILLO, Calif. -- Gas prices have climbed big-time.
A nationwide survey found that the average for self-serve regular has climbed 17 cents from two weeks ago to $3.79 a gallon.
Analyst Trilby Lundberg said that's 61 cents higher than it was about a year ago.
Lundberg said for the first time, the average price for regular has topped $4 in two metropolitan areas.
It's $4.07 a gallon in Chicago, which had the nation's highest average price, and $4.01 on New York's Long Island.
The analyst said the national average for regular could reach $4.00 or more in a few weeks.
Of the cities surveyed, the cheapest price was in Tucson, Ariz., where a gallon of regular cost $3.48 on average.
Oil prices rose Monday on the news of $4-a-gallon gas.
Investors brushed off news of increased production from Saudi Arabia on Friday, the same day oil prices punched through another per-barrel trading record.
The world's leading oil producer promised an additional 300,000 barrels of crude a day as President George W. Bush wrapped up a meeting Friday with Saudi Arabia's King Abdullah.
But that and the U.S. move to temporarily stop filling government stockpiles did little to restrain soaring prices.
Link Removed
Gas Prices Top $4 In Two Metro Areas
2 Weeks Time Brings 17-Cent Gas Price Climb
POSTED: 7:12 am CDT May 19, 2008
UPDATED: 9:53 am CDT May 19, 2008
CAMARILLO, Calif. -- Gas prices have climbed big-time.
A nationwide survey found that the average for self-serve regular has climbed 17 cents from two weeks ago to $3.79 a gallon.
Analyst Trilby Lundberg said that's 61 cents higher than it was about a year ago.
Lundberg said for the first time, the average price for regular has topped $4 in two metropolitan areas.
It's $4.07 a gallon in Chicago, which had the nation's highest average price, and $4.01 on New York's Long Island.
The analyst said the national average for regular could reach $4.00 or more in a few weeks.
Of the cities surveyed, the cheapest price was in Tucson, Ariz., where a gallon of regular cost $3.48 on average.
Oil prices rose Monday on the news of $4-a-gallon gas.
Investors brushed off news of increased production from Saudi Arabia on Friday, the same day oil prices punched through another per-barrel trading record.
The world's leading oil producer promised an additional 300,000 barrels of crude a day as President George W. Bush wrapped up a meeting Friday with Saudi Arabia's King Abdullah.
But that and the U.S. move to temporarily stop filling government stockpiles did little to restrain soaring prices.
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